$0.72 EPS Expected for Webster Financial Co. (NYSE:WBS) This Quarter

Equities analysts expect Webster Financial Co. (NYSE:WBS) to announce earnings of $0.72 per share for the current quarter, Zacks reports. Four analysts have provided estimates for Webster Financial’s earnings. The highest EPS estimate is $0.85 and the lowest is $0.60. Webster Financial posted earnings of $0.96 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 25%. The business is scheduled to announce its next quarterly earnings report before the market opens on Thursday, January 21st.

On average, analysts expect that Webster Financial will report full-year earnings of $2.42 per share for the current fiscal year, with EPS estimates ranging from $2.30 to $2.56. For the next fiscal year, analysts forecast that the business will report earnings of $3.30 per share, with EPS estimates ranging from $3.00 to $3.72. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that cover Webster Financial.

Webster Financial (NYSE:WBS) last announced its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.06. Webster Financial had a net margin of 20.01% and a return on equity of 9.30%. The firm had revenue of $294.32 million for the quarter, compared to analysts’ expectations of $296.02 million. During the same quarter in the previous year, the company posted $1.01 EPS. The company’s revenue was down 5.2% compared to the same quarter last year.

WBS has been the topic of several research analyst reports. Piper Sandler reduced their price objective on Webster Financial from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, September 28th. Jefferies Financial Group upgraded Webster Financial from a “hold” rating to a “buy” rating and upped their price objective for the stock from $45.00 to $52.00 in a research note on Thursday, January 7th. Raymond James boosted their price target on Webster Financial from $40.00 to $50.00 and gave the stock a “strong-buy” rating in a research report on Monday, December 7th. Wells Fargo & Company cut shares of Webster Financial from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $35.00 to $40.00 in a research report on Monday, January 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Webster Financial from $38.00 to $50.00 in a research note on Tuesday, December 15th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $43.35.

Shares of NYSE WBS traded up $1.48 during mid-day trading on Monday, hitting $52.09. 21,218 shares of the company were exchanged, compared to its average volume of 645,684. Webster Financial has a 1-year low of $18.16 and a 1-year high of $53.52. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $42.29 and a 200-day simple moving average of $32.41. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 17.33 and a beta of 1.65.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CI Investments Inc. acquired a new position in Webster Financial during the 3rd quarter worth $25,000. Cerebellum GP LLC acquired a new stake in Webster Financial during the third quarter worth approximately $36,000. WASHINGTON TRUST Co boosted its holdings in shares of Webster Financial by 138.5% in the 3rd quarter. WASHINGTON TRUST Co now owns 1,910 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 1,109 shares in the last quarter. Acadian Asset Management LLC raised its position in Webster Financial by 308.5% during the 3rd quarter. Acadian Asset Management LLC now owns 2,455 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 1,854 shares during the last quarter. Finally, Sowell Financial Services LLC raised its position in Webster Financial by 358.1% during the 4th quarter. Sowell Financial Services LLC now owns 3,642 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 2,847 shares during the last quarter. 86.72% of the stock is currently owned by institutional investors and hedge funds.

About Webster Financial

Webster Financial Corporation operates as the holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Community Banking.

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Earnings History and Estimates for Webster Financial (NYSE:WBS)

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